Pangaea Logistics Solutions Ltd. · NASDAQ:PANL
Pangaea Logistics Solutions — FY2017 Earnings Presentation
10 slides from Pangaea Logistics Solutions's earnings presentation, Mar 21, 2018
Slide 1: Fourth Quarter and Full Year 2017 Earnings Conference Call Presentation
FOURTH QUARTER AND FULL YEAR 2017 EARNINGS CONFERENCE CALL PRESENTATION
Slide 2: Safe Harbor
Safe Harbor This presentation includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding future financial performance, future growth and future acquisitions. These statements are based on Pangaea’s and manage
Slide 3: Business Highlights
Business Highlights •Adjusted EBITDA(1) of $40.1 million •Net income of $7.8 million •Income from operations of $15.2 million 2017 Results •6 Panamax Ice-Class 1A •2 Ultramax Ice-Class 1C •2 Handymax Ice-Class 1A •2 Panamax •8 Supramax including 2 on bareboat Fleet •Average of 53 vessels operated ev
Slide 4: Financial Highlights
Financial Highlights • Adjusted EBITDA $40.1 million • TCE $11,605 per day/per vessel • Average 53 vessels operated every day • $34.5 million unrestricted cash and cash equivalents at year end.
Slide 5: Financial Performance Q1 2016 Through Q4 2017
Financial Performance Q1 2016 Through Q4 2017 1) Adjusted EBITDA is a non-GAAP measure and represents income or loss from operations before depreciation and amortization, loss on sale and leaseback of vessels, and when applicable, loss on impairment of vessels and certain non-recurring items. 2) TCE
Slide 6: Drivers of 2017 Performance
Drivers of 2017 Performance • The Baltic Dry Index, a measure of dry bulk market performance, up 64% to an average of 1,137, from an average of 692 for 2016. • Average number of vessels operated each day increased to 53, up from 38 in 2016. • Leveraged owned fleet by chartering-in market vessels to
Slide 7: Pangaea Average TCE v. Market Average TCE
2017 YTD 2016 YTD 2017 Q4 2016 Q4 Pangaea Avg TCE $11,605 $9,636 $12,510 $10,159 Market Avg TCE* $9,665 $6,153 $11,330 $9,189 $- $2,000 $4,000 $6,000 $8,000 $10,000 $12,000 $14,000 Pangaea Average TCE v. Market Average TCE *Average of Baltic Panamax and Supramax reported indices Pangaea’s demonstrat
Slide 8: Pangaea Logistics Solutions Ltd.
Pangaea Logistics Solutions Ltd. Pangaea concentrates on cargo movements to: • Identify opportunities that require our operation and logistic expertise; • Capitalize on unique trades that utilize our specialized fleet; • Reduce ballast legs and other costs for superior market returns; • Assist custo
Slide 9: Selected Income Statement Data
Selected Income Statement Data 1) Adjusted EBITDA is a non-GAAP measure and represents income or loss from operations before depreciation and amortization, loss on sale and leaseback of vessel, and when applicable, loss on impairment of vessels and certain non-recurring items. Three months ended Dec
Slide 10: Selected Balance Sheet and Cash Flow Data
Selected Balance Sheet and Cash Flow Data December 31, 2017 December 31, 2016 Current Assets Cash and cash equivalents 34,531,812$ 22,322,949$ Accounts receivable, net 21,089,425 20,476,797 Other current assets 27,388,984 19,644,520 Total current assets 83,010,221 62,444,266 Restricted cash 4,000,00
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